Total capital and reserves of banks operating in the country increased by about 48.5 billion dirhams or 12.1% year-on-year to reach 447.8 billion dirhams at the end of last June, compared to about 399.3 billion dirhams at the end of June 2022. .
Banks’ capital and reserves increased by about 4.5% or the equivalent of 19.2 billion dirhams in the first half of this year, compared to 428.6 billion dirhams at the end of last December, the Emirates Central Bank said in its monthly report. 2022, compared to one billion dirhams 442.4 last May, an increase of 1.2% on a monthly basis.
The central bank explained that banks’ capital and reserves do not include loans/secondary deposits, but they also include profit for the current year.
According to the central bank, national banks account for about 86.3% of the total capital and reserves of banks operating in the country, and their value reached 386.6 billion dirhams at the end of last June, an increase of 12.5% on a year-on-year basis. Compared to about 343.7 billion dirhams in June 2022.
The share of foreign banks reached 13.7% of the total capital and reserves of banks operating in the country, and their value reached 61.2 billion dirhams at the end of last June, an increase of about 10.1% compared to 55.6 billion on a year-on-year basis. Dirhams in June 2022.
The capital and reserves of banks in the Emirate of Dubai reached 216.7 billion dirhams at the end of last June with a year-on-year growth of 13.6%, while the capital and reserves of banks in the Emirate of Abu Dhabi reached about 196.9 billion dirhams, an increase of 11.2% year-on-year, and the capital and reserves of banks in other emirates reached about 34.2 billion. AED, with an annual increase of 8.9%.
The capital and reserves of conventional banks in the country stood at around 374.9 billion dirhams at the end of last June, an increase of 12.5% year-on-year, while the capital and reserves of Islamic banks stood at around 72.9 billion dirhams. About 10.3% on annual basis.
